Nigerian oil workers’ strike may affect Ghana’s economy

Ghana’s Central Bank governor, Henry Kofi Wampah, on Wednesday said a cut in gas supply from Nigeria due to the ongoing industrial action by Nigerian oil workers could affect his country’s economy.

Nigeria supplies gas to Togo, Benin and Ghana through the West African Gas Pipeline (WAPCO).

Ghana’s economy was hurt in 2013 by an energy deficit, Reuters said.

Nigerian oil workers embarked on an indefinite industrial strike on Tuesday over the sudden withdrawal of the operational license issued to the NNPC by the Pension Commission (PenCom) to run an in-house pension fund management company for its workers.

The union wants NNPC to approve the pension scheme and its adequate funding, restore crude supply to the refineries and ensure a Turn Around Maintenance (TAM) of the refineries.

Oil workers said the ongoing strike may affect exports of Africa’s largest oil worker.

“It will not have any impact on production but it can have an impact on exports. All export terminals manned by our workers could shut down,” Babatunde Oke, spokesman for the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN)’and National Union of Petroleum and Natural Gas Workers (NUPENG), said.

“It could affect the supply of crude by Nigeria to the world markets.”

Market analysts have refuted this claim, saying it cannot significantly hurt oil production or export.

There are yet no fuel queues at filling stations in Lagos, Nigeria’s commercial centre. However, queues are springing up in some parts of Abuja, the country’s federal capital, Abuja.

Although NNPC promised to do everything to avert the strike, oil workers vowed to continue with it until their demands are met.

The state-owned company is expected to issue a statement after its negotiation talk with representatives of the oil workers today.